Mozambique’s ex-finance minister faces sentencing in New York in ‘tuna bonds’ corruption case
- Mozambique's former finance minister, Manuel Chang, has been sentenced to eight-and-a-half years in prison for his role in the tuna bond scandal that caused a financial crisis in the country.
- Chang was convicted of accepting $7 million in bribes and misrepresenting $2 billion in loans, leading to significant losses for investors.
- The tuna bond scandal resulted in nearly 2 million Mozambicans falling into poverty, with the country facing a $2 billion debt crisis.
- At least 10 people have been convicted in connection with the scandal, including the son of former president Armando Guebuza.
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Mozambique ex-finance minister sentenced in US to 8-1/2 years in prison over 'tuna bonds' scandal
NEW YORK - A former Mozambique finance minister was sentenced on Friday to 8-1/2 years in prison after being found guilty of participating in a fraud involving $2 billion in loans to three state-owned companies to develop the southern African country's marine infrastructure.
·Singapore
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